Guilford County, Greensboro and High Point Launch C-PACE Building Financing

Guilford County, Greensboro and High Point announced a new financing option for eligible commercial property improvements Thursday, October 15. The local governments adopted North Carolina's Commercial Property Assessed Capital Expenditure program, known as C-PACE, following action by county commissioners.

The program allows eligible owners to seek long-term private financing for energy-saving upgrades, water conservation, renewable energy and measures designed to make buildings more resilient. The initiative covers qualifying commercial, industrial, agricultural, nonprofit and multifamily properties with at least five dwelling units. It can also apply to eligible new construction.

Financing comes from private capital providers and is secured by a voluntary assessment and lien on the property. County and city officials emphasized that this is not a general tax and that local governments do not guarantee the financing or pledge taxpayer funds to repay it. Owners initiate participation and must obtain written consent from existing mortgage holders and other qualifying lienholders.

Potential projects range from heating and cooling systems, insulation and lighting to solar installations and protection against storms or flooding. Owners select their own contractors and lenders, rather than receiving a direct county grant. The Economic Development Partnership of North Carolina administers the statewide program.

The local adoption matters because substantial building upgrades can be expensive to finance through conventional means. Officials expect the additional financing pathway to support reinvestment in existing properties and new development in Greensboro, High Point and unincorporated Guilford County. Actual eligibility and loan terms will depend on the property, project and participating private provider.

Interested owners and developers can contact statewide program administrator Kristin Bunn through the Economic Development Partnership of North Carolina. The announcement did not identify any individual property that has already secured financing.